Deviations of Exchange Rates from Purchasing Power Parity : A Story Featuring Two Monetary Unions /
We examine the mean-reverting properties of real exchange rates, by comparing the unit root properties of a group of international real exchange rates with two groups of intra-national real exchange rates. Strikingly, we find that while the international real rates taken as a group appear mean-rever...
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| Médium: | Časopis |
| Jazyk: | English |
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Washington, D.C. :
International Monetary Fund,
1998.
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| Edice: | IMF Working Papers; Working Paper ;
No. 1998/069 |
| On-line přístup: | Full text available on IMF |